GLENDALE, Calif.–California Credit Union has launched a “Financial Scholars Program,” a new initiative to bring financial literacy education to high school students across Los Angeles County.
The program will be delivered in partnership with EverFi, which offers a financial literacy learning platform.
California Credit Union said the Financial Scholars Program is web-based, using the latest in new media technology – including simulations, avatars, gaming, and adaptive-pathing – to bring complex financial concepts to life for today’s digital generation. Through this platform, students in 10 high schools will cover scores of topics in personal finance, allowing them to become more informed, responsible citizens, it said.
There will be no costs to the schools.
"It is more important than ever to arm young people with the skills to navigate an increasingly complex financial landscape,” said Ron McDaniel, CEO of the $1.4-billion California Credit Union. "We hope students take full advantage of this innovative educational experience that uses the tools they love – digital learning and gaming – to explain these important topics."
The Financial Scholars program, a 10-unit course offers approximately six hours of instruction aimed at teaching, assessing and certifying students in a variety of relevant financial topics. These include credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k accounts and other critical concepts that map to national financial literacy standards.
The credit union said the platform tracks the progress and score of every student and provides students who successfully complete the course with Certification in Financial Literacy, a valuable mark of distinction on college applications and resumes.
The California Credit Union Financial Scholars Program will roll out this fall.